mccain brings people together in a whole new way

Holy cow. Strange bedfellows and all that. The National Review editors are siding with the Frank-Dodd legislation against McCain’s “Resurgence” mortgage plan (he probably just thought anything with surge in the name would be a good idea).

We never thought we would defend the Frank-Dodd legislation, which we bitterly opposed last summer. But it looks downright prudent compared to what McCain has proposed. McCain’s plan is a full bailout for lenders, and it cannot do much more than the Frank-Dodd bill without letting “ruthless borrowers” and other reckless types off the hook. It is time to acknowledge that the government has gone as far as it can without creating a level of moral hazard that is unacceptable. Give Frank-Dodd — and the Paulson plan — time to work.